AfDB: Angola improves public finances management

The recognition came from AfDB representative in Angola, Joel Daniel Muzima.

Muzima was speaking at launching ceremony of Report on Public Finance Management and Revision of Trust Systems (PEMFSR) in Angola.

The AfDB manager said that the recognition of commitment to improving transparency and fiscal efficiency is based on recent progress reported in many areas.

Among the areas, he mentioned the reform of the legal framework, with the adoption of the revised General Inspection of Finance (IGF), timely and frequent publication of reports on the use of budgetary resources through the use of the Integrated State Finance Management System (SIGFE).

The list includes the progress in the audit of National Accounts by the Audit Courts, adoption of a new acquisition law, the Standard Bidding Documents and the relevant regulations.

The African financial institution also highlights the rational use of public spending due to the sharp drop of tax revenues due to the fall in oil prices in the international market.

According to Joel Muzima, these developments are clear evidence of a positive trajectory of change in global public finance management systems of Angola.

The AfDB, which is a partner of the Angolan Government, has responded positively to the request and has offered assistance in the preparation of this report aimed at supporting ways to ensure greater transparency and efficiency in public finance management.

The launching ceremony of the document, held behind closed doors, was witnessed by the Secretary of State for the Budget, Aia-Eza da Silva.

Ales attended the ceremony were Staff from Ministry of Finance and African Development Bank.